Electronics firms seek Rs 35,000 crore PLI support to boost manufacturing

The electronics manufacturing industry is urging the government for a Rs 30,000- Rs 35,000 crore production-linked incentive (PLI) scheme for components and sub-assemblies, along with capital expenditure support to back the rising exports of mobile phones and other electronics, the Economic Times reported.

The India Cellular & Electronics Association (ICEA), representing top smartphone brands and manufacturing companies, said the incentive scheme is essential to support the growing demand for electronics components, projected to reach $75-$80 billion by 2026 and $300 billion by 2032, to underpin the manufacturing of $300 billion worth of electronics products by 2026 and $1.2 trillion by 2032, according to the report.